03 November 2019
Bangkok: Asserting that India had stopped working in a routine, bureaucratic manner, Prime Minister Narendra Modi on Sunday invited Thai entrepreneurs to invest in the country for easy business.
Addressing a programme to mark 50 years of the global presence of the Aditya Birla Group, Modi said India is proud of all the enterprises that have ventured out and distinguished themselves globally and added that he was eager to give a picture of some positive changes happening in India.
"India has seen many success stories in the last five years in various sectors. The reason for this is not only the governments. India has stopped working in a routine, bureaucratic manner," Modi said.
"You would be shocked to know that for years, money was spent on the poor but did not really reach the poor. Our government ended this culture thanks to DBT. DBT stands for direct benefit transfer. DBT has ended the culture of middlemen and inefficiency," he added.
Referring to taxation, the Prime Minister said it was an area where India had done significant work. "I am happy that India is one of the most people-friendly tax regimes. We are committed to further improving it even more...In today's India, the contribution of the hard-working taxpayer is cherished."
Noting that his assertions made India one of the world's most attractive economies for investment, Modi said: "For investment and easy business, come to India. To innovate and starting up, come to India. To experience some of the best tourist sites and warm hospitality of people, come to India. India awaits you with open arms."
Modi pointed out that India had received $286 billion FDI in the last five years which was "almost half of the total FDI in India in the last 20 years."
"India is now pursuing another dream - to become a $5 trillion economy. When my government took over in 2014, India's GDP was about $2 trillion. In 65 years, $2 trillion. But in just 5 years, we increased it to nearly $3 trillion."
Lauding the Indian people, Modi said if there was one thing he was especially proud of, it was India's talented and skilled human capital. "No wonder India is among the world's largest start-up eco-systems."
"When India prospers, the world prospers. Our vision for India's development is such that it also leads to a better planet," he said.
Referring to the Act East Policy of the government, Modi said his government was paying special attention to enhance connectivity with the region.
He also stressed on direct connectivity between ports on Thailand's west coast and ports on India's east coast, saying it "will enhance our economic partnership".